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Phase 1 of Loftus Park mixed-use development nears completion

Phase one of the mixed-use Loftus Park precinct being developed by JSE-listed Redefine Properties and built by construction firm Abland will include 34 000 m2 of office space, a gym, an open-air piazza with restaurants and a convenience retail offering, as well as a new 152-room hotel by hospitality multinational Marriott.

“The newly developed precinct provides an integrated work and play environment in what will be a market-defining mixed-use concept,” Redefine averred in a statement on Wednesday.

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The precinct will be accredited as a 4-Star Green Star Building.

“The retail component will be anchored by brands like Checkers and Dis-Chem, among others, while Virgin Active will open a premium health club at Loftus Park,” stated Redefine Properties commercial asset manager Pieter Strydom.

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“The precinct reflects our proven record of creating bespoke communities that focus on connectivity, walkability and green spaces. Our investment in enhancing access to the Gautrain network was the final piece of puzzle to unlock the true potential of the development,” he added.

The centrally located precinct lies within shadow’s length of the iconic Loftus Versfeld stadium, enjoys good access and, with the Gautrain bus stop adjacent to the precinct, Loftus Park connects to Centurion, Sandton, Rosebank and OR Tambo International Airport via Hatfield.

“Abland worked closely with Redefine Properties to bring this unique development to life, which will set a new standard for quality mixed-use precincts in the node,” Abland marketing director Grant Silverman said.

Phase Two will add another 7 600 m2 to the development and will see the inclusion of a hospital. Phase Three will include the development of an additional 13 000 m2 of office space.

“Loftus Park offers tenants a unique work and play environment, from convenience shopping to schooling, as well as on-site amenities. The mixed-use precinct is located to ignite the greater node around it,” noted Strydom.

“The precinct is a rare opportunity for tenants to acquire office space in one of Pretoria’s upcoming nodes. We are seeing robust interest given the attractive dynamics of Loftus Park and corporates can benefit from the amenities and excellent linkages via the Gautrain feeder bus,” he added.

By: Megan van Wyngaardt
JSE-listed real estate investment trust Growthpoint Properties has issued a Green Bond on the JSE, the first local company to do so. The Growthpoint Green Bonds will be available in terms of five, seven and ten years and are aimed at raising capital solely allocated for funding projects that result in positive environmental and climate benefits. →